Graft Polymer (UK) (LON: GPL) is the biggest riser on the Main Market after it signed a manufacturing services agreement for production of haemostatic wound care products. The share price is one-quarter higher at 2.75p.
The Slovenia-based polymers and additives technology developer believes that this is a significant opportunity for the Graft Bio division. The partner is in the Israel pharma market and the Graft Bio facility will provide manufacturing services for the partner’s patented haemostatic powder. This changes from a self-emulsifying powder to a gel when coming into contact with blood, thereby helping to clot the blood effectively.
This deal means that Graft Bio will become a formal contract manufacturing organisation and will help with further development. It will also provide an indication of the effectiveness of the Grant Bio facility.
Graft Polymer (UK) raised £5m at 21.5p/share when it joined the standard list in January 2022. There was £1.64m in the bank at the end of 2022, after a cash outflow of £3.4m during the year.
